The rates we are seeing in hospitality lending in Maine right now are still relatively low (average +/- 5%) for commercial loans, and are certainly no higher than residential rates today. In fact, some I’ve seen are lower than residential!
Did You Know?
Not everyone who is a licensed real estate agent is a Realtor®?
A Realtor® is a licensed real estate salesperson who belongs to the National Association of Realtors®, the largest trade group in the country. Realtors® are held to a higher ethical standard than licensed agents and must adhere to a Code of Ethics. Some Realtors® are brokers, while some are associate brokers or sales agents. These are varying levels of education, licensing and often responsibilities.
And hospitality ‘Consultants’ not licensed in the state of Maine are not held to any standards the way we are here as licensed Realtors® in Maine, where consumer protection is paramount.